At its Board of Directors meeting held today, Yakult Honsha Co., Ltd. provisionally approved a personnel change of representative director and the introduction of an executive officer system, as outlined below.

Formal decisions on the personnel change of representative director and executive personnel changes arising from the introduction of the executive officer system will be made at the 59th annual general shareholders’ meeting and subsequent Board of Directors meeting to be held on June 22, 2011.

1. Personnel Change of Representative Director

(1) Reason for the Change
Having built a solid base and drawn up a roadmap for the 21st century, Yakult Honsha Co., Ltd. and the Yakult Group plan to further enhance their management structure with a view to future development and growth. Under the new structure, the Group will aim to take its global business management to the next stage and raise corporate value.

(2) Representative Directors: Names and Positions 

 (3) New Representative Director: Brief Personal History

2. Introduction of Executive Officer System

(1) Aim
Introducing an executive officer system is intended to strengthen the Board of Directors’ decision-making and supervisory capabilities, to establish clearer responsibilities for business operations, and to make these functions more efficient. The Board of Directors will also gain further dynamism from the reduction in its membership.

(2) Outline

(a) Decisions on executive officer appointments,dismissals and duties will be made by the Board of Directors.
(b) Executive officers will be appointed for a term of one year.
(c) Given the importance of strong links between the Board of Directors and operating departments, members of the Board of Directors may serve concurrently as executive officers.

(3) Date of introduction
June 22, 2011

(4) Other matters
Personnel affairs and any other matters arising from the introduction of the executive officer system shall be advised as soon as decisions have been made.